The jackpot for the MEGA Millions draw on Fri Jul 24, 2026, is projected to be $743 Million, with an option for a cash payout of $323.4 Million. Should you be the lucky winner of the MEGA Millions jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For New Mexico residents, the state will deduct 5.9% from your lottery earnings.
| New Mexico MEGA Millions Jackpot/Cash Option for Fri Jul 24, 2026 |
|---|
| Draw Date | Fri Jul 24, 2026 | | Projected Jackpot | $743,000,000 | | Cash Value | $323,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $323,400,000 | | Federal Tax(24%) | $77,616,000 | | Additional Federal Tax | $42,002,330 | | State Tax(5.9%) | $19,080,600 | | Net Lumpsum Payment | $184,701,070 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$11,182,893 |
$4,098,001
$659,791 |
$6,425,101 |
| 2 |
$11,742,372 |
$4,305,008
$692,800 |
$6,744,564 |
| 3 |
$12,329,342 |
$4,522,187
$727,431 |
$7,079,724 |
| 4 |
$12,946,032 |
$4,750,362
$763,816 |
$7,431,854 |
| 5 |
$13,593,185 |
$4,989,809
$801,998 |
$7,801,378 |
| 6 |
$14,273,030 |
$5,241,351
$842,109 |
$8,189,570 |
| 7 |
$14,986,310 |
$5,505,265
$884,192 |
$8,596,853 |
| 8 |
$15,735,997 |
$5,782,649
$928,424 |
$9,024,924 |
| 9 |
$16,522,834 |
$6,073,779
$974,847 |
$9,474,208 |
| 10 |
$17,349,050 |
$6,379,479
$1,023,594 |
$9,945,977 |
| 11 |
$18,216,131 |
$6,700,299
$1,074,752 |
$10,441,080 |
| 12 |
$19,127,049 |
$7,037,339
$1,128,496 |
$10,961,214 |
| 13 |
$20,083,290 |
$7,391,148
$1,184,914 |
$11,507,228 |
| 14 |
$21,087,826 |
$7,762,826
$1,244,182 |
$12,080,818 |
| 15 |
$22,142,143 |
$8,152,923
$1,306,386 |
$12,682,834 |
| 16 |
$23,249,213 |
$8,562,539
$1,371,704 |
$13,314,970 |
| 17 |
$24,411,265 |
$8,992,498
$1,440,265 |
$13,978,502 |
| 18 |
$25,632,014 |
$9,444,176
$1,512,289 |
$14,675,549 |
| 19 |
$26,913,689 |
$9,918,395
$1,587,908 |
$15,407,386 |
| 20 |
$28,259,262 |
$10,416,257
$1,667,296 |
$16,175,709 |
| 21 |
$29,672,448 |
$10,939,136
$1,750,674 |
$16,982,638 |
| 22 |
$31,156,219 |
$11,488,131
$1,838,217 |
$17,829,871 |
| 23 |
$32,713,547 |
$12,064,343
$1,930,099 |
$18,719,105 |
| 24 |
$34,349,633 |
$12,669,695
$2,026,628 |
$19,653,310 |
| 25 |
$36,066,706 |
$13,305,012
$2,127,936 |
$20,633,758 |
| 26 |
$37,870,710 |
$13,972,493
$2,234,372 |
$21,663,845 |
| 27 |
$39,763,874 |
$14,672,964
$2,346,069 |
$22,744,841 |
| 28 |
$41,752,142 |
$15,408,623
$2,463,376 |
$23,880,143 |
| 29 |
$43,839,972 |
$16,181,120
$2,586,558 |
$25,072,294 |
| 30 |
$46,031,822 |
$16,992,105
$2,715,877 |
$26,323,840 |
|
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